SOURCE: Lyric Jeans, Inc.

December 21, 2006 07:13 ET

Lyric Jeans Year End Summary

LOS ANGELES, CA -- (MARKET WIRE) -- December 21, 2006 -- Lyric Jeans, Inc. (PINKSHEETS: LYJN) is pleased to provide its shareholders with a year-end report reviewing the company's progress and advances over the last 10 months. In less than one year Lyric Jeans has accomplished its objectives in developing and launching its premium lifestyle brand Lyric Culture.

"I am more enthusiastic about Lyric Culture than any other venture I've ever undertaken in my life," said Hanna Rochelle Schmieder, President of Lyric Jeans, Inc. "In a very short period of time, we've built the foundation for a music and fashion powerhouse that will take the world by storm," she continued.

"We have the best music partners in the world and a tremendous team of graphic artists, designers, patternmakers and manufacturers who together under HANNA's direction are breaking ground with truly outside the box thinking in terms of both design and marketing," said Ronny Halperin, CEO of Lyric Jeans. "In the new year, we look forward to taking the steps toward becoming a fully reporting company and building Lyric Culture into a household brand name," he added.

In 2006 Lyric Jeans, Inc:

--  Forged strategic partnerships and entered into licensing agreements
    with the world's largest and most prominent music publishers including
    Universal Music Publishing Group, Warner Chappell, Sony/ATV, BMG, EMI,
    Peermusic, Chrysalis and Cherry Lane Music Group
--  Opened a Los Angeles-based design studio and corporate office
--  Engaged the garment industry's leading contractors to manufacture its
    product including American Garment Sewing, Inkworks Studio, Fashion
    Connection and Caravan.
--  Retained the Kathy Walker Showroom to head up sales at the prestigious
    New Mart in the heart of the fashion district in downtown Los Angeles
--  Launched a state-of-the-art website and e-store in time for the
    holiday shopping season
--  Secured distribution for its product at high-end department store Saks
    Fifth Avenue
--  Hired renowned fashion PR agency People's Revolution to head up
    marketing, publicity and branding
--  Attracted celebrity attention from actress Brooke Burke who wore Lyric
    Culture on the hit CBS TV series "Rockstar Supernova"; Kelly Clarkson who
    wore a Lyric tee to open up NASCAR; Tina Fey who wore Lyric product for
    editorial in Rolling Stone
--  Was reviewed in Women's Wear Daily, Fairchild's prestigious daily
    trade publication which serves as the authority for the fashion and retail
--  Was the subject of a two-page feature article in California Apparel
    News which touted Lyric as "one of the more ambitious and original denim
    launches in some time."
--  Announced its debut collection titled 'Lyric Culture Revolution'
    featuring a comprehensive product line including denim and leather jackets,
    jeans, shorts, skirts, corsets, tee shirts and belt buckles
--  Hosted the America album release party with Sony/BMG and the album
    release celebration for the New York Dolls.
In 2007 Lyric Jeans, Inc. plans to continue growing its business by establishing Lyric Culture as the leading rock n' roll lifestyle brand. The company intends to showcase its product at premiere industry tradeshows, expand its sales effort and distribution nationally and internationally, increase its product line to include menswear, hire additional designers and management, host celebrity driven A-list events, garner editorial placement in national consumer publications and enter into various name and likeness deals with music icons.

Lyric Culture uses the words of legendary artists in the design of denim and leather jackets, shorts, skirts, corsets, tee shirts and belt buckles. Every item in the collection reflects the personality, style and flare of the artist and song through its design. Lyric Culture honors these artists and their timeless words by fusing high fashion and music in a groundbreaking way, allowing the wearer to express themselves through the words of a classic song -- a modern twist to wearing your heart on your sleeve (and pant leg)!

Included in this release are certain "forward-looking" statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding Lyric Jeans Inc. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Lyric Jeans Inc. does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

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